Recording EMI Payments and Closing a Loan

Once you’ve added financing to an asset, every EMI you pay the lender should be logged in Rentablez so your payment tracker stays accurate. Each recorded installment ticks the progress bar forward, updates Total Paid and Outstanding, and — once you’ve logged them all — the app nudges you to close the loan. This page covers recording a payment, fixing a mistaken one, and closing a loan when it’s paid off.

Recording, deleting, and closing all require the Financing — Write (financing.write) permission. Without it you can still view a loan, but the action links and buttons won’t appear.

Where to Record Payments

You can record an EMI installment from two places — both open the same Record EMI Payment form:

  • Financing (EMI) page — go to Financials → Financing (EMI), find the loan in the Financed Assets register, and click the Record EMI payment (banknote) icon in its Actions column.
  • Asset stock detail panel — open the asset, go to the Stocks tab, open the stock unit, and use the Record payment link on its Financing (EMI) card.

Record an EMI Payment

  1. Open the Record EMI Payment form from either place above.
  2. Payment Date (required) — defaults to today. Change it if you’re logging a payment made on an earlier date.
  3. Amount (required) — defaults to the loan’s monthly EMI. Adjust it if this installment was for a different amount (it must be greater than 0).
  4. Note (optional) — a short reminder, e.g. “paid late”. It shows next to the payment in the history.
  5. Click Record Payment.

You’ll see a “Payment recorded” confirmation, and the loan’s tracker updates immediately.

Track Installment Progress

Every recorded payment feeds the tracker on the stock unit’s Financing (EMI) card:

  • A progress bar shows how far you’ve come, labelled with the number of EMIs paid out of the total tenure (for example, “3 of 12 EMIs paid”) plus a percentage.
  • Total Paid — the sum of every installment recorded so far.
  • Outstanding — what’s left against the loan’s total.

In the register, the Recovery column shows the same story as a bar — how much you’ve collected against the loan versus its total payable (EMI × tenure).

Revenue and recovery figures are hidden for staff without the Reports — Read (reports.read) permission — they’ll see dots (••••) in place of collected and recovery numbers. The payment dates and amounts you record are always visible to anyone with financing access.

When the Loan Is Fully Paid

Once you’ve recorded as many installments as the loan’s tenure, Rentablez shows a reminder on the card:

All installments for the loan’s tenure have been recorded — consider closing this loan.

You’ll also get a pop-up nudge right after recording the final payment. This is a prompt, not an automatic action — the loan stays Active (and keeps counting toward your EMI totals) until you close it yourself.

Fix a Mistaken Payment

Recorded the wrong amount or a duplicate? Delete it and the totals recalculate automatically.

From the stock detail panel:

  1. On the Financing (EMI) card, expand Payment History.
  2. Click the trash icon next to the payment you want to remove.
  3. Confirm in the “Delete this payment?” dialog.

From the Financing (EMI) page:

  1. Click the Payment history (clock) icon on the loan’s register row.
  2. In the EMI Payments window, click Delete next to the payment.
  3. Confirm the dialog.

You can only delete payments while the loan is Active. Once a loan is closed, its payment history becomes read-only.

Close a Loan

Closing a loan tells Rentablez it’s settled so it stops counting toward your dashboard EMI totals.

  1. On the register row, click the Close loan (✕) icon — or use the Close loan link on the stock unit’s Financing card.
  2. Read the confirmation: “The asset will stop counting towards the EMI totals. This cannot be undone, but you can add a new financing later.”
  3. Click Close loan to confirm.

The loan’s status changes to Closed and it moves under the Closed filter in the register.

After closingWhat happens
Dashboard EMI totalsThe loan no longer contributes to the period’s EMI obligation
RegisterThe loan appears under the Closed filter, not Active
Payment historyStill viewable, but read-only — no new payments, no deletions
Starting overYou can add a fresh financing record to the same asset later

Closing can’t be undone. If you close a loan by mistake, you can’t reopen it — but you can add a new financing record to that asset and re-record its payments.